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Sewer Pass NFT and its ‘sales story’ might just leave you surprised

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Sewer Pass NFT and its ‘sales story’ might just leave you surprised

  • Sewer Pass NFT has gathered over 7,000 ETH as the floor price gets to over $2,500.
  • Sewer Pass creator deployed the NFT with a 5% creator fee included.

The highly awaited launching of Yuga Labs’ most recent game, Sewer Pass, began on 18 January. How did the newest NFT in the ecosystem fare, and what unique twist did the developers add?

Sewer Pass to the moon?

The commencement of the minting of the Sewer Pass NFT was announced on 18 January by The Bored Ape Yacht Club (BAYC) Twitter account. Over 4,000 ETH, or more than $6 million, in total sales volume, were registered within the first few hours of the announcement’s dissemination. Additionally, according to statistics from Dune Analytics, over 1,600 of the NFTs were sold at the end of the first day of distribution.

Source: Dune Analytics

According to data from OpenSea, the Sewer Pass NFT has amassed more than 7,900 ETH in total as of this writing. The floor price of the recently issued NFT had also increased from the initial 1.2 ETH area at launch to roughly 1.7 ETH, or over $2,500.

Free Pass for Yuga NFT holders

Bored Ape Yacht Club (BAYC) or Mutant Ape Yacht Club (MAYC) NFT were given free access to the NFT mint. With the NFT, holders can participate in the skill-based game Dookey Dash from 19 January to 8 February.

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The scores they earn will be incorporated into a larger game titled Chapter 1. The mint’s website states that there are four distinct Sewer Pass levels. BAYC and MAYC NFTs holders are placed in different tiers depending on whether or not they also possess Bored Ape Kennel Club NFTs.

No Pass on creator fees

The Sewer Passes became the subject of Twitter discussion because its underlying smart contract included a blocklist. Other prominent secondary marketplaces like LooksRare and NFTX have had some of their email addresses blocklisted.

In November, OpenSea chimed in on the heated discussion over creator fee implementation on NFT marketplaces. The NFT platform argued for the permanent implementation of creators’ fees. They offered their own solution to the fee implementation and also made it open-source.

Furthermore, the open-source nature of the enforcement code by OpenSea allowed creators to blocklist platforms with zero fees. You may also remember that BAYC’s original creators advocated for the imposition of creator fees. So, the recent events surrounding Sewer Pass shouldn’t come as much of a surprise.

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Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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$12.7 billion

Nearly $13 Billion In Sales: Breaking Down 5 NFT Collections By Sales Volume 

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Nearly $13 Billion In Sales: Breaking Down 5 NFT Collections By Sales Volume 

Non-fungible token (NFT) assets have existed since at least 2014, but interest in them began to rise in January 2021, according to Google Trends data. Approximately one year later, the search term “NFT” reached its highest score on Google Trends. During that time the top five NFT collections, in terms of all-time sales volume, have collectively accrued $12.7 billion in sales volume.

5 Non-Fungible Token Projects Capture $12.7 Billion in Sales

Two years ago, the search query “NFT” first appeared on Google Trends (GT), reaching a score of 1 out of 100 in the first month of 2021. Before that time, GT data shows little to no interest in NFTs, despite their existence since 2014. A year later, NFTs were quite popular and the search query reached a score of 100 as searches for the term skyrocketed. Another year later, interest in NFTs has decreased significantly, with the search query reaching a score of 11 out of 100 during the week of January 22-28, 2023.

Google Trends data from Jan. 2004 to Jan. 28, 2023.

As January 2023 ends, metrics indicate that the top five NFT collections by all-time sales volume have recorded a total of $12.7 billion in sales volume since they began receiving significant attention. According to data from dappradar.com, the leader in NFT sales volume over the last two years is Axie Infinity, which has amassed $4.27 billion in sales volume. On January 28, 2023, dappradar.com reports that Axie Infinity’s market capitalization was $1.37 million. The website explains that “market capitalization is equal to the floor price multiplied by the collection total supply.”

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The top five NFT collections in terms of all-time sales include Artblocks, Axie Infinity, BAYC, MAYC, and Cryptopunks.

Cryptopunks follows Axie Infinity in overall sales volume, having accumulated $3.02 billion in all-time sales volume. Its current market valuation is larger than Axie’s market capitalization, at $1.04 billion. According to data, 7,503 traders have traded Cryptopunks NFTs in 23,259 sales. Next in the top collections is Bored Ape Yacht Club (BAYC), with $2.39 billion in all-time sales volume. BAYC has recorded 31,225 sales among 15,176 traders. Its current market capitalization is slightly lower than Cryptopunk’s, at $1.02 billion.

The fourth largest NFT collection in terms of all-time sales is Mutant Ape Yacht Club, with $1.66 billion. Mutant Ape Yacht Club (MAYC) has an overall market capitalization of around $427 million, and 47,744 sales have been recorded among 30,475 MAYC traders. The fifth-largest NFT collection in terms of all-time sales is Artblocks, with $1.36 billion in global sales volume. Its current market capitalization is around $143 million, and the project has seen 227,294 sales recorded among 54,842 traders. While all five NFT collections have amassed $12.7 billion in sales volume, their collective value is around $2.619 billion.

Tags in this story

$12.7 billion, all-time, all-time sales volume, Artblocks, Assets, axie infinity, Axie NFTs, BAYC, Blockchain, Bored Ape Yacht Club, collectibility, collective value, cryptopunks, Current, Decentralized, decreased, Digital Assets, fifth largest, fourth largest, global sales volume, Google trends, GT Data, highest score, Interest, Market Cap, Market Valuation, Marketplace, MAYC, Mutant Ape Yacht Club, nft, Non-fungible Token, overall sales volume, Ownership, pixelated punks, popularity, Sales Volume, Scarcity, search term, Traders, unique, Verification

What do you think about the five NFT projects that have collectively recorded $12.7 billion in all-time sales? Let us know your thoughts about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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altcoin

BAYC profits soar as NFT demand rises, but what has holders anxious

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BAYC profits soar as NFT demand rises, but what has holders anxious

  • BAYC holders were observed to be in profit as demand for the NFT increased.
  • APE token price rose, but network growth continued to decline.

In a recent development, it was discovered that holders of the Bored Ape Yacht Club [BAYC] were profitable over the last few months. The NFT asset outperformed many others in the crypto space, despite the turbulence of the industry’s markets.

A Bored Ape is now less than 50% of the total value of all the NFTs and coins each BAYC has received since mint. pic.twitter.com/xWjcDXMchK

— NFTstatistics.eth (@punk9059) January 24, 2023


Realistic or not, here’s APE’s marketcap in BTC’s terms


BAYC to the moon?

Furthermore, it was discovered that BAYC and related assets made up 50% of the overall Ethereum [ETH] NFT volume in the past week. This indicated a high level of interest and demand for BAYC and related assets, which was reflected in the growing profitability of BAYC holders.

Source: NFTstatistics.eth

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Additionally, the TVL collected by staking BAYC also increased, according to data provided by Dune Analytics. This was a positive sign for the network’s growth and adoption. However, the APY generated by staking this asset declined materially, which could be a cause for concern for investors.

Source: Dune Analytics

Moreover, sales for BAYC also surged with a 140% increase over the last 24 hours, according to Dapp Radar. This is a positive sign for the NFT collection’s future growth and profitability.

The average price for Mutant Ape Yacht Club [MAYC] also grew along with the number of holders holding the NFT collection. Its price grew by 14.30% in the last month, according to NFTGO.

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Most NFT collections in the BAYC cohort witnessed interest from the crypto space over the last month. This interest in the collection impacted its native token, APE, positively.

No monkey business

According to data provided by Santiment, there was a spike in ApeCoin’s activity. Its price increased along with daily active addresses.

However, the network growth of ApeCoin declined. This suggested that the number of times new addresses transferred APE for the first time decreased over the last few days.

Source: Santiment

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At the time of writing, the price of APE was $5.55 after decreasing by 3.59% in the last 24 hours, according to CoinMarketCap.

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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altcoin

A resurgence in profile picture NFTs cause “Punks” to take the lead… Details inside

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A resurgence in profile picture NFTs cause “Punks” to take the lead… Details inside

  • Ethereum-based NFTs have seen the most activity since 2023 started.
  • CryptoPunks held an 8.10% share of the total NFT market capitalization at press time. 

The overall stability in the general cryptocurrency market since the start of the 2023 trading year has led to renewed interest in profile picture NFTs (PFPs), with Ethereum-based NFT collections seeing the most traction.

According to data from CryptoSlam, with 726,992 Ethereum [ETH]-based NFTs sales transactions completed since the year started, sales volume on the network totaled $289.47 million at press time. Furthermore, in the last 17 days, the highest daily sales volume on the network stood at $30.11 million on 6 January.

“Punk” NFTs for the win

After a momentary decline in market share during December 2022, the CryptoPunks NFT collection reclaimed its spot as the project with the largest market capitalization in the NFT vertical of the crypto ecosystem.

According to NFT analytics platform NFTGo, CryptoPunks’ market capitalization stood at $1.71 billion at press time. In the last month, this rallied by 14%. 

Also, increased trading activity for the CryptoPunks NFT collection in the last 30 days led to a 42% jump in sales volume, per NFTGo. As a result, sales volume within the period under review totaled $21.06 million. 

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Source: NFTGo

The project’s floor price has grown tremendously in the last month, data from NFT Floor Price showed. Within that period, the price per CryptoPunk NFT went up by 6%. At press time, an NFT from the CryptoPunks collection was obtainable for 67.47 ETH.

Source: NFT Floor Price

With a market capitalization of $1.71 billion, CryptoPunks held on to an 8.10% share of the total market capitalization of $22.7 billion. It was closely followed by Bored Ape Yacht Club [BAYC], which had a market capitalization of $1.68 billion with an 8.03% market share.

Source: NFTGo

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Interestingly, a consideration of all-time sales volume for both BAYC and CryptoPunks revealed that more BAYC NFTs have been sold.

The craze for PFPs returning?

The year so far has been marked by an uptick in NFTs trading activity as buyers and sellers alike have increasingly interacted in several marketplaces, thereby completing a plethora of sales transactions.

The NFT market has seen an uptick in trading activity as 2023 kicks off. pic.twitter.com/sLXfdvOZOD

— Delphi Digital (@Delphi_Digital) January 16, 2023

Per data from Dune Analytics, the count of NFTs transactions completed so far this month has totaled 144,105, exceeding the forecasted 124,689.  128,450 of those transactions were completed on OpenSea.

Source: Dune Analytics

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So far this month, NFTs sales transactions worth $471 million have been completed, and the general market capitalization has gone up by 7%.

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